Self Reliance Ny Federal Credit Union Mortgage Rates, Fees & Info
New York, NYLEI: 549300R22XCNNGVXRO22
Tax ID: 13-5617009
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Mortgage Data
Review & Overview
Self Reliance Ny Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Self Reliance Ny Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: New York, Philadelphia, Miami, Trenton, and Kingston among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Self Reliance Ny Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Self Reliance Ny Federal Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.10% | 11/17/24 |
| 30 Year Cash-out Refi | 4.80% | 11/17/24 |
| 15 Year Conventional Purchase | 5.38% | 11/17/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Self Reliance Ny Federal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
117Origination Dollar Volume (All Markets)
$68,215,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 108 | $64,130,000 | $593,796 | $4,432 | 4.21% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 3 | $1,615,000 | $538,333 | $0 | 4.64% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $1,620 | 4.05% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $6,004 | 3.35% |
| Outside of Metro Areas | 1 | $305,000 | $305,000 | $5,124 | 3.30% |
| KINGSTON, NY (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $4,135 | 3.75% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,840 | 3.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against SELF RELIANCE NY Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 117 | $68,215,000 | $583,034 | $4,419 | 4.20% |
For 2019, Self Reliance Ny Federal Credit Union's most frequently originated type of loan was Conventional, with 117 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 71 | $46,955,000 | $661,338 | $4,413 | 4.23% |
| Home Purchase | 46 | $21,260,000 | $462,174 | $4,425 | 4.15% |
For 2019, Self Reliance Ny Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 71 originations. The 2nd most popular reason was Home Purchase, with 46 originations.
Loan Duration/Length
For 2019, Self Reliance Ny Federal Credit Union's most frequently cited loan duration was 10 Year, with 60 originations. The 2nd most popular length was Other, with 39 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 58 | $24,610,000 | $424,310 |
Self Reliance Ny Federal Credit Union's average total fees were $4,627, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 58 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 68 | $43,150,000 | $634,559 |
| 3-4% | 40 | $17,160,000 | $429,000 |
| 5-6% | 8 | $7,520,000 | $940,000 |
| 2.5-3% | 1 | $385,000 | $385,000 |
During 2019, Self Reliance Ny Federal Credit Union's average interest rate for loans was 3.32%, while their most frequently originated rate bucket for loans was 4-5%, with 68 originations.
Loan Sizing
2019 saw Self Reliance Ny Federal Credit Union place emphasis on $200k-400k loans with 37 originations, totaling $11,025,000 in origination value.
Applicant Income
Self Reliance Ny Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 21 originations. The second most popular income band? $150k-250k, with 12 originations.
Applicant Debt to Income Ratio
Self Reliance Ny Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 19 originations. The next most common DTI ratio? 20-30%, with 11 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 52 | $40,670,000 | $782,115 | $2,738 | 4.52% |
| White | 65 | $27,545,000 | $423,769 | $4,688 | 3.94% |
Approval Rates
Total approvals of all applications99.24%
Self Reliance Ny Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination88.89%
Self Reliance Ny Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 117 | $68,215,000 | $583,034 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 16 | $15,190,000 | $949,375 |
| Single Family (1-4 Units):Site-Built | 101 | $53,025,000 | $525,000 |